(1) If the Director has reasonable grounds for believing a person is carrying on or attempting to carry on international mutual fund business in or from Saint Lucia in contravention of section 3(1), the Director may instruct that person to give to the Director such information or explanation as the Director may reasonably require to enable the Director to carry out his or her duty pursuant to this Act.
(2) A person who fails to comply with an instruction given to the person in accordance with subsection (1) commits an offence and is liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years.
(3) A person giving information or an explanation for the purpose of subsection (1) shall not give the Director information or an explanation that the person knows or should reasonably know is false or misleading.
(4) A person who contravenes subsection (3) commits an offence and is liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both.